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Dec 7, 2012
12/12
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maybe the chance of that 40 years ago is 10 percent and the chance of the fiscal cliff and higher taxes killing the economy is probably 50 percent and, yes, you are right, we are still not fixing the problem or coming to a solution. one thing, remember, when we had the problem with the debt downgrade and the different talks a year ago? there were the scare tactics from washington about what would happen to interest rates, and what would happen to social security, and interest rates went down, people got their checks and everything was fine. >>neil: i am reminded of the words of the apollo 13 command other, can you not fake the magnitude of a disaster but washington can paper over a problem with cuts that are not real, and revenues that may not be what they appear to be, so, the fear is the same, it is presenting something that ultimately markets will not buy and people will not trust. >>guest: that is right. and, also, put in the notion it has to be done in the next three weeks or else, and look what has happened with the debt numbers. the nones are absolutely out-of-control. it will be
maybe the chance of that 40 years ago is 10 percent and the chance of the fiscal cliff and higher taxes killing the economy is probably 50 percent and, yes, you are right, we are still not fixing the problem or coming to a solution. one thing, remember, when we had the problem with the debt downgrade and the different talks a year ago? there were the scare tactics from washington about what would happen to interest rates, and what would happen to social security, and interest rates went down,...
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Dec 7, 2012
12/12
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simpson, if we go up the fiscal cliff simpsons are hit the hardest. the taxes go up 9,000%. writers of the simpson, the taxes will skyrocket. this isn't a joke. >> bob: you are right. but this is not going to happen. there is adjustment to social security. real cuts. >> eric: you know what -- >> bob: can i say something? >> eric: you add ornaments to add things. in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for it. debt doesn't matter. >> bob: respond to the social security thing. >> eric: obama in october of 2008 before he was president obama. season. >> the way bush has done it, over the last eight years is to take out a credit cardback of china in the game of the children, driving up the national debt. that is irresponsible and unpatriotic. >> eric: unpatriotic. $5 trillion in debt. president obama will add ten, 11, 12 trillion in debt. when he is done with this. >> for years, president obama running when he was senator, running for president always said that the bush tax cuts were only for the rich and only ben
simpson, if we go up the fiscal cliff simpsons are hit the hardest. the taxes go up 9,000%. writers of the simpson, the taxes will skyrocket. this isn't a joke. >> bob: you are right. but this is not going to happen. there is adjustment to social security. real cuts. >> eric: you know what -- >> bob: can i say something? >> eric: you add ornaments to add things. in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for...
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Dec 6, 2012
12/12
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tax tips...//. everything going crazy in th d.c,.../ does this fiscal cliff.../ doos... anything ...too change the way... we prepare for filing? we do to reduce taxable income? &piicome? is it bbtter ffr us to file 33early? earry? the white house is eefing up thh i-r-s.../ shouldd we be extra carefuu? pareful? if you thiik you gave too much in previouu years, you can go backktight? tight?tiggt? tight?you can go back in previous years, you gave too mucc if you think if you - you gave too much innppevious tight? 3 a... pop star p3 a... pop star ...is in... baltimore 3 worthy cause.singing sensation... cody simpson... performed at &p... ma-- gooby's... joke aaternoon....//he ... teamed up with thh radio station... z-104.3... tots....//admission... was donation ... was taken... at - the door....//cody says he pouldn't be happier ...to be a part of this fffrt..../ 1:39:24"i for kids.. kids."cody is used to for kids." kids." love........................... for kids." kids." cody is used to performing for thousandd of people at big arenas ... but to tonight's crowd was llmited
tax tips...//. everything going crazy in th d.c,.../ does this fiscal cliff.../ doos... anything ...too change the way... we prepare for filing? we do to reduce taxable income? &piicome? is it bbtter ffr us to file 33early? earry? the white house is eefing up thh i-r-s.../ shouldd we be extra carefuu? pareful? if you thiik you gave too much in previouu years, you can go backktight? tight?tiggt? tight?you can go back in previous years, you gave too mucc if you think if you - you gave too...
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Dec 13, 2012
12/12
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>> people are doing interesting things when it comes to the fiscal cliff and taxes. overall h & r block there's one in every five miles of every american. they are every where. this is not just for the month of december. this is going to be going through into january and february. this is their busy time. they hire about 100,000 year-round. the peak season is october to january. tax professionals client service customer care positions, customer care, tech support. one in every tax return in this country that is filed h & r block does it. the fiscal cliff is changing especially with the real estate market i will talk about that next week. they are busy right now. we want to know how to file our taxes. >>> they are lacking toer more than masking. >> exactly. >> everything is listed at my block casone exchange.com. you can apply. we are going to be getting follow up with the fed and crazy decision that took many of us by surprise. >> it is 25 minutes after the hour. he sacrificed his life to save the lives of fellow soldiers in iraq. why is the military refusing to give
>> people are doing interesting things when it comes to the fiscal cliff and taxes. overall h & r block there's one in every five miles of every american. they are every where. this is not just for the month of december. this is going to be going through into january and february. this is their busy time. they hire about 100,000 year-round. the peak season is october to january. tax professionals client service customer care positions, customer care, tech support. one in every tax...
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Dec 6, 2012
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CNBC
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in a fiscal cliff free fall, tax rates on capital gains could rise to 24%. those dividends could increase to a whopping 44%. here now is former reagan economic adviser art laugher. how can you have capitalism without capital and why is there a war on capital, that includes cap gains, that includes dividends which will triple. it also includes the estate tax. why is there a war on capital? >> i have no idea, larry. i think it's just pure politics. but it's sort of lovely the words and looking them up. i understand that the french don't have a word for entrepreneur or laissez faire. [ laughter ] >> because they never use it. >> they never use it. economics is all about incentives. if you tax people who work, you pay people who don't work, don't be surprised if you find a lot of people not working. it's the rich issue here, which is just fascinating to me. if you tax rich people and give the money to poor people, you're going to get lots and lots of poor people and very few rich people. just look at what happened in britain two years ago when gordon brown raise
in a fiscal cliff free fall, tax rates on capital gains could rise to 24%. those dividends could increase to a whopping 44%. here now is former reagan economic adviser art laugher. how can you have capitalism without capital and why is there a war on capital, that includes cap gains, that includes dividends which will triple. it also includes the estate tax. why is there a war on capital? >> i have no idea, larry. i think it's just pure politics. but it's sort of lovely the words and...
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Dec 13, 2012
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obama care taxes or for that matter the fiscal cliff tax hikes that are coming. let's faulk about this. we have igor volsky and guy benson. guy benson, i am glad they have won't up to this lousy medical device tax but did someone say minnesota where, wait, medtronic and st. jude medical are the biggest companies? they're the ones that make the equipment? and senator klobuchar and senator al franken are all of a sudden making a beef because it's in their state? where they been, guy benson, and when did they discover that taxes are job kimmers? >> i thought that wasn't the case at all. you're right. they didn't just wake up to this. let's be completely honest about what happened here. they knew all along that the medical device tax was not just a job killer but would really stifle medical innovation. we've heard this from people across the spectrum. the people involved in this industry who are making america the leader when it comes to world medical innovation, they're saying this is really going to put a crimp in what we're able to accomplish. now at the last minu
obama care taxes or for that matter the fiscal cliff tax hikes that are coming. let's faulk about this. we have igor volsky and guy benson. guy benson, i am glad they have won't up to this lousy medical device tax but did someone say minnesota where, wait, medtronic and st. jude medical are the biggest companies? they're the ones that make the equipment? and senator klobuchar and senator al franken are all of a sudden making a beef because it's in their state? where they been, guy benson, and...
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Dec 10, 2012
12/12
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WUSA
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if they can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across the board spending cuts will kick in on january 1. economists say that combination could plunge the country back into a recession. there are signs some republicans are now willing to compromise on taxes if they can secure cuts to social security, medicare and medicaid. >> the rate increase on the top 2% that the president is talking about and all of a sudden the shift goes back to entitlements. >> reporter: one proposal under discussion, raising the eligibility age for medicare is not going well for some democrats and advocates for senior citizens. >> the option to raise the medicare age is bad policy and will increase costs because people who are 65 and 66 still need health insurance. >> reporter: the aarp says the real solution to cutting the deficit is lowering skyrocketing health care costs. danielle nottingham, cbs news, washington. >>> the official fiscal cliff deadline is december 31. but many on capitol hill say that an agreement is needed before the end of this week so congre
if they can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across the board spending cuts will kick in on january 1. economists say that combination could plunge the country back into a recession. there are signs some republicans are now willing to compromise on taxes if they can secure cuts to social security, medicare and medicaid. >> the rate increase on the top 2% that the president is talking about and all of a sudden the shift goes back to...
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Dec 8, 2012
12/12
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KQED
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the economy pretty fast" if lawmakers don't settle the fiscal cliff issue. he's chief economist of moody's analytics. so mark falling off the fiscal cliff means bad things. how bad? >> it could be quite bad, susie. i don't think it's if we get into january and we haven't settled this but if house makers haven't nailed this down by early february, i think stock investors, bond investors will start to get very very nervous, start selling, risky businesses pull back and by the end of february when we start approaching the ceiling for the debt limit, i think we'll be back in recession. it will be a fairly severe recession. so policy makers have a few weeks but not much more than that. they have to get this together. >> susie: some people are saying that today's jobs report is very encouraging and that you can look at this as a way that maybe the economy can handle some stuff belt tightening because things are looking a little bit better. how do you think the various parties, republican and democrats will handle this jobs report in their fiscal cliff negotiations
the economy pretty fast" if lawmakers don't settle the fiscal cliff issue. he's chief economist of moody's analytics. so mark falling off the fiscal cliff means bad things. how bad? >> it could be quite bad, susie. i don't think it's if we get into january and we haven't settled this but if house makers haven't nailed this down by early february, i think stock investors, bond investors will start to get very very nervous, start selling, risky businesses pull back and by the end of...
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Dec 10, 2012
12/12
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cliff, the tax hikes and spending cuts due to kick in at year end. the president and house speaker john boehner met one on one at the white house on sunday. while no details were leaked, a rarity for washington, we do know the main sticking points remain. raising taxes on high earners and making cuts to entitlement programs like medicare. >> you know, they started their tango now, and any time you start a tango, you have to get it done. >> more republicans are accepting the idea that wealthy americans will get a tax raise hike. >> there are a group of folks looking at this realizing we don't have a lot of cards before year end. >> but others remain opposed to raising taxes on the top 2%. >> the president wants the rates to go up. that doesn't solve the problem, and we don't want to be back here in another year, another ten years trying to answer the question. >> the deadline for an agreement is closer than you might think. many here on capitol hill tell us that the president tell us they have to reach a deal by the end of this week in order for congr
cliff, the tax hikes and spending cuts due to kick in at year end. the president and house speaker john boehner met one on one at the white house on sunday. while no details were leaked, a rarity for washington, we do know the main sticking points remain. raising taxes on high earners and making cuts to entitlement programs like medicare. >> you know, they started their tango now, and any time you start a tango, you have to get it done. >> more republicans are accepting the idea...
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Dec 12, 2012
12/12
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cliff negotiations, immigration reform has become like taxes and spending. do you do it step-by-step, which is what the republicans like, because they'd like to show they are tough on security and there isn't a legal path to citizenship for illegal immigrants, or do you do the whole thing all together? if i were carl rove, which isn't something i imagine myself being often, i would knock on the door of olympia snowe and say what are your lessons for us? >> fun conversation. >> that would actually be a fun conversation. we hope that carl rove, if you're listening, takes that advice. >>> coming to the recent data, planned parenthood provides less than 5% of resources to abortion services, but that's not stopping republicans in their quest to defund the organization entirely. we'll head to the lone star state and take a look at the eye of the storm just ahead. >>> lauren wanted to introduce cabbage to mainstream america. she created mother-in law's kimchi. for more, watch 7:30 on msnbc. we are gathered here today to celebrate the union of tim and laura. it's am
cliff negotiations, immigration reform has become like taxes and spending. do you do it step-by-step, which is what the republicans like, because they'd like to show they are tough on security and there isn't a legal path to citizenship for illegal immigrants, or do you do the whole thing all together? if i were carl rove, which isn't something i imagine myself being often, i would knock on the door of olympia snowe and say what are your lessons for us? >> fun conversation. >> that...
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Dec 6, 2012
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host: so if these tax extenders have to be dealt with by the end of the year and in the fiscal cliff negotiations, what are the options for congress right now? on december, what is it, 6 today? guest: to be honest, these are kind of an after thought at this point because often as i said just all of these are extended for a year or two at a time. they talk about trying to make the list shorter but if they have to, if it's like december 29 and they need to pass something, all they have to do is pass everything for a year and it won't cost so much. but get to this after they figure out the bigger question. host: but they can do it in one bill? they can say tax extenders and list the different -- guest: exactly. it will go in the big fiscal compromise and you won't a lot about it unless someone says, wait, they passed a reduction deal and they probably will. tax ex tenders were the in the tarp, the financial bailout. so they usually get snuck into these big billless. host: right now what's the status of these so-called tax extenders? guest: so the finance committee, the senate finance co
host: so if these tax extenders have to be dealt with by the end of the year and in the fiscal cliff negotiations, what are the options for congress right now? on december, what is it, 6 today? guest: to be honest, these are kind of an after thought at this point because often as i said just all of these are extended for a year or two at a time. they talk about trying to make the list shorter but if they have to, if it's like december 29 and they need to pass something, all they have to do is...
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Dec 7, 2012
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that's the whole issue here. >> on the fiscal cliff front, no new deals or concessions made public, but "the new york times" reports the dynamic has changed. at the request of speaker boehner, senate leaders and nancy pelosi have been dismissed from the negotiating table. leaving just the speaker and the president to hammer this one out. today vice president biden is hosting middle-class families at the white house, continuing to pressure congress to strike a deal on tax rates below 250,000. yesterday, the president struck a hopeful note with a middle-income family in virginia, while maintaining a hardline on negotiations. >> the message that i think we all want to send to members of congress is, this is a sovble problem. i'm not going to sign any package that somehow prevents the top rate from going up for rate at the top 2% but i remain optimistic we can get something done for that is good for families like this one and that is good for the american economy. >> but the clock is ticking. with just two full weeks before christmas to go. joining me now from washington, the man with all t
that's the whole issue here. >> on the fiscal cliff front, no new deals or concessions made public, but "the new york times" reports the dynamic has changed. at the request of speaker boehner, senate leaders and nancy pelosi have been dismissed from the negotiating table. leaving just the speaker and the president to hammer this one out. today vice president biden is hosting middle-class families at the white house, continuing to pressure congress to strike a deal on tax rates...
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Dec 8, 2012
12/12
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everyone talks about taxes and what is going to happen with the fiscal cliff. there has been $1500 gone to increase oil prices. you can get them that tax cut today if you invested in our report. everybody talks about entitlements. high oil prices make the social security trust insolvent five years sooner than they would if he did not have high oil prices. america needs jobs and growth. following the recommendations in our report will lead to both of those. it would be good for american business. >> i will start with senator alexander. tell me about energy policy and where it fits in with the fiscal cliff. what we will spend money on and how we were tightened our belts. >> the major place it fits is the right policy would create an environment which would produce a lot more revenue. that would help to reduce the debt. the federal government doesn't spend much money on energy. energy research is about $6 billion a year. i would like to see it doubled. this report is a blueprint for independence and i think it is the right blueprint. we are not in a position to be
everyone talks about taxes and what is going to happen with the fiscal cliff. there has been $1500 gone to increase oil prices. you can get them that tax cut today if you invested in our report. everybody talks about entitlements. high oil prices make the social security trust insolvent five years sooner than they would if he did not have high oil prices. america needs jobs and growth. following the recommendations in our report will lead to both of those. it would be good for american...
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Dec 5, 2012
12/12
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CNNW
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the fiscal cliff, you go over the cliff, the taxes go up for every single person. is the plan then if you do a deal for taxes on the middle class, then de facto the taxes go up on the wealthy and sort of have a win/win for the democrats? is that the scenario we're looking at now? >> well, the scenario is that we still have time to put a deal together. the president has a detailed proposal on the table. republicans need to decide where they want to move. john boehner needs to decide how he will get his caucus together. they're becoming increasingly isolated in their position. hopefully we can have a deal which protects the middle class. there is a piece of legislation sitting in the house today that would prevent taxes from going up on 98% of the american people. 97% of small businesses. they should go ahead and move that. and then we can have a broader discussion of how we achieve larger deficit reduction and avoid the fiscal cliff. but there's plenty of room and plenty of time for compromise. the president's position is clear. we're not going to do anything that h
the fiscal cliff, you go over the cliff, the taxes go up for every single person. is the plan then if you do a deal for taxes on the middle class, then de facto the taxes go up on the wealthy and sort of have a win/win for the democrats? is that the scenario we're looking at now? >> well, the scenario is that we still have time to put a deal together. the president has a detailed proposal on the table. republicans need to decide where they want to move. john boehner needs to decide how he...
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Dec 12, 2012
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as part of this so-called fix -- fiscal cliff, what tax deductions would you give up? fort lauderdale, hello. caller: hello. good morning. i feel that i would be willing to give up some of my medicare benefits. i currently get free shoes and other benefits from medicare that i would be willing to give up. host: anything that you would be willing to give up on your taxes? items that you have in the past? caller: i would be willing to give up my charitable deductions. host: how come? caller: i feel that i give part of it to my charitable deductions. host: would you still make donations to charity if you could not write it off on your taxes? caller: yes, i would. host: thank you for your call. joe? caller: i would be willing to give up earned income credit and i liked what the last caller said about modifying the amount for charitable deductions. i think that sometimes the very rich use that to give to charities that actually benefit themselves. i also have a contingency, which would be to reform the bankruptcy act and remove those benefits for companies that were put in
as part of this so-called fix -- fiscal cliff, what tax deductions would you give up? fort lauderdale, hello. caller: hello. good morning. i feel that i would be willing to give up some of my medicare benefits. i currently get free shoes and other benefits from medicare that i would be willing to give up. host: anything that you would be willing to give up on your taxes? items that you have in the past? caller: i would be willing to give up my charitable deductions. host: how come? caller: i...
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Dec 6, 2012
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cliff expire, go down the fiscal cliff for tax rates, and adjust the taxes for the 98% through the rebate process. and this could be available for anyone, any president. let the bush tax rates apply as a ceiling, and then apply the rebate process to control the 98%. host: why do you propose that? what is the advantage in your view? caller: because the executive branch, the president, whoever it is, would have the ability to adjust the tax effectively for anyone who falls below the clintons' ceiling, and they could do this anytime. there would not have to go back to congress. -- they would not have to go back to congress. guest: it is true that technically the administration can do some things without even the congress's approval, but it would not be a lasting solution. let's say you could freeze the amount of withholding that you pay three paycheck at the level it was this year, for the 98%, and increase withholdings for everyone else as the law would dictate if you read over the cliff. -- went over the cliff. but the 98%, if they did not actually pass a law to extend the tax cuts for tha
cliff expire, go down the fiscal cliff for tax rates, and adjust the taxes for the 98% through the rebate process. and this could be available for anyone, any president. let the bush tax rates apply as a ceiling, and then apply the rebate process to control the 98%. host: why do you propose that? what is the advantage in your view? caller: because the executive branch, the president, whoever it is, would have the ability to adjust the tax effectively for anyone who falls below the clintons'...
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Dec 7, 2012
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if the fiscal cliff debate is only limited to tax rates and deficit reduction, and not the debt ceiling, this will come up again. president obama once the debt ceiling to be part of this agreement. the reason why is simple, because that is where republicans have leverage in february. he needs republicans to extend the debt ceiling for the government to function with all going into default. republicans know this, and in theory they could separate the two to maximize their leverage. host: time for a couple more calls in this segment of the "washington journal," we will continue the unemployment insurance discussion in the following segment. laura is in louisville, kentucky, on the independent line. caller: good morning. what bothers me is when people say they actually can not find work and they have been on unemployment for 20 months, whatever they can get, and i will tell you my husband lost his job five years ago. he was with a company for 23 years. immediately we went into survival mode. we thought about what we could do to reduce bills, simplify our lifestyle in case he could not find
if the fiscal cliff debate is only limited to tax rates and deficit reduction, and not the debt ceiling, this will come up again. president obama once the debt ceiling to be part of this agreement. the reason why is simple, because that is where republicans have leverage in february. he needs republicans to extend the debt ceiling for the government to function with all going into default. republicans know this, and in theory they could separate the two to maximize their leverage. host: time...
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Dec 12, 2012
12/12
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and these taxes are going up regardless what have happens with the fiscal cliff. these tacks are written in obamacare. and if taxes do i- deed go up on the top two brackets as a result of the fiscal cliff, that will be on top of the obamacare taxes. >> is there any way for us, the nation, to police the earnings or profits are insurance company under obamacare? there are all of these extra, they get the extra deals. now the insurance companies get the extra deals because they have lobbyists and probably sent them over to the white house and capitol hill and they got the $25 billion that the extra americans don't get, the special deal. how do we know we aren't getting totally scammed by the insurance companies? >> the insurance companies obviously a lot of them wanted obamacare because they sell a product. >> risk. they sell risk. >> and the law -- >> or buy risk. >> and the leforss all ever us to buy their product. if we don't have enough money to buy their product, the law gives taxpayer paid subsidies to buy their product. what's not to like for them? they are pr
and these taxes are going up regardless what have happens with the fiscal cliff. these tacks are written in obamacare. and if taxes do i- deed go up on the top two brackets as a result of the fiscal cliff, that will be on top of the obamacare taxes. >> is there any way for us, the nation, to police the earnings or profits are insurance company under obamacare? there are all of these extra, they get the extra deals. now the insurance companies get the extra deals because they have...
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Dec 11, 2012
12/12
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how the fiscal cliff could impact your tax bill? calculate how much you would pay under different policy scenarios on paul's "making sense" page. >> ifill: once congress gets past its budget woes, another huge domestic challenge awaits. republicans and democrats have said they will take up immigration reform. the question is how. last week a new pew hispanic center report showed illegal immigration is on the decline. last year there were 11.1 million illegal immigrants living in the country, down from 11.2 million in 2010. that's down from a peak of 12 million unauthorized immigrants reported in 2007. latino voters overwhelmingly supported president obama in november, and he has said immigration reform will be high on his second term agenda. homeland security secretary janet napolitano will oversee the administration's next steps. ray suarez sat down with her earlier today. >> suarez: secretary napolitano, welcome to the program. >> thank you. suarez: over the week past there's been a lot of reporting saying once we figure out what
how the fiscal cliff could impact your tax bill? calculate how much you would pay under different policy scenarios on paul's "making sense" page. >> ifill: once congress gets past its budget woes, another huge domestic challenge awaits. republicans and democrats have said they will take up immigration reform. the question is how. last week a new pew hispanic center report showed illegal immigration is on the decline. last year there were 11.1 million illegal immigrants living in...
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Dec 13, 2012
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FBC
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irrespective of the fiscal cliff, we are going to have $270 billion in tax hikes that start effective january 1. thank you, obamacare. nancy pelosi has said that if you want to find out what's in it, just pass it. we are finding out and we are going to have a terrific group of people, including john cruz, the vice president of hsbc, who is the whistleblower on the $1.9 billion in fines if they just had to pay for money laundering along with middle eastern terroris. mexican drug cartels, african dictators, all of the really nice people tht they had no idea where problem. by the way, nobody going to jail will be taking that up. we will have coming up next. tracy: all right, "lou dobbs tonight" at 7:00 p.m. and :00 p.m. eastern. when we come back, how to beat the street. covering your assets with tips with picking winners on wall street. stay with us .racy: earnings season kicks off tracy: where has the time gone? earnings season kicks off in less than a month from now. here with advice on how to pick stocks for earnings, we have the author of the options handbook. before we get intoall
irrespective of the fiscal cliff, we are going to have $270 billion in tax hikes that start effective january 1. thank you, obamacare. nancy pelosi has said that if you want to find out what's in it, just pass it. we are finding out and we are going to have a terrific group of people, including john cruz, the vice president of hsbc, who is the whistleblower on the $1.9 billion in fines if they just had to pay for money laundering along with middle eastern terroris. mexican drug cartels, african...
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Dec 13, 2012
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, and then the fiscal cliff. susan, thank you very much. we appreciate it, michael. thank you, doug. great to have you with us. now for your comments,
, and then the fiscal cliff. susan, thank you very much. we appreciate it, michael. thank you, doug. great to have you with us. now for your comments,
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Dec 6, 2012
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president obama has all the leverage because he knows if it goes over the fiscal cliff, tax cuts expires and he'll never let the top 2% get that tax cut reinstated. if they do what you suggested, vote the tax cut, continue it for the 98%, then the leverage switches to them come the time of the debt limit. they might be able to make a deal where they save some of it so it doesn't go up to 39%. maybe goes up to 37.5%. maybe they do the buffett rule and only raise rates on people making $500,000. they have a little room to leverage but right now they have zero leverage, zero. >> do you agree with that? i don't know if i agree with that. it's hard once the rates go back to 39.6 or whatever they go to, to go back and say, now we to want cut taxes for the rich. what's the reason to do it? the republican party says we have to stop the government, stop paying our debts, don't pay our bills anymore because we have to help out the rich now. that would be the worst situation to be in. >> as the conversation shifts really to the bottom line in the deficit. at the end of the day the whole thing is ab
president obama has all the leverage because he knows if it goes over the fiscal cliff, tax cuts expires and he'll never let the top 2% get that tax cut reinstated. if they do what you suggested, vote the tax cut, continue it for the 98%, then the leverage switches to them come the time of the debt limit. they might be able to make a deal where they save some of it so it doesn't go up to 39%. maybe goes up to 37.5%. maybe they do the buffett rule and only raise rates on people making $500,000....
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Dec 10, 2012
12/12
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for the fiscal cliff she represent as balanced solution. spending cuts and a increase in taxes. kron 4 news. >>> we have clear skies out there across the bay area on this sunday evening after a spectacular weekend. it was cool on saturday. it was foggy but today just an "a" plus day. sunshine. temperatures in the 60s and 70s. and even right now, san jose and san francisco in the upper 50s. antioch mid-50s. cooler for union city, 49 degrees. tonight clear skies every place but there could be a few patches of dense fog at the ground and to the north bay valleys. best chance is closer to sun rise. we could have limited visibility. rest of the day, lots of sunshine. another mild day. most places get into the 60. look for increasing clouds tuesday from a weather system in the pacific. right now clear skies. and the storm track is into alaska. there sadevelopping storm there -- is a developing storm there. it will bring us rain and cooler temperatures wednesday. noon tomorrow, we are clear. clouds off shore and remains that way for monday night and into tuesday morning but by tuesday
for the fiscal cliff she represent as balanced solution. spending cuts and a increase in taxes. kron 4 news. >>> we have clear skies out there across the bay area on this sunday evening after a spectacular weekend. it was cool on saturday. it was foggy but today just an "a" plus day. sunshine. temperatures in the 60s and 70s. and even right now, san jose and san francisco in the upper 50s. antioch mid-50s. cooler for union city, 49 degrees. tonight clear skies every place but...
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Dec 6, 2012
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and timothy geithner has told the cnbc the swhous ready to go over the fiscal cliff if tax rates on the nation's wealthiest don't rise. dag gri announces the rate decision later about plus apple shares still down in frankfurt. and its shares of the chinese market drop in the third quarter. >>> deutsche bank has hit back at allegations of financial impropriety brought by three former employees. according to reports, the ex-deutsche workers have launched a complaint with u.s. authorities alleging the bank failed to recognize $12 billion in unrealized losses at the height of the financial crisis. they claim improper accounting on the part of the deutsche bank enabled the lender to exaggerate its capital position. and citigroup plans to shed 11,000 jobs around the world which equals around 4% of its workforce. some experts say this is part of a strategy led by their new coe who took job in october, however others say it has the finger prints of chairman michael o'neal. citi shares reacted positively to the news, though the stockstill trading at around 70% of its tangible book value. you can
and timothy geithner has told the cnbc the swhous ready to go over the fiscal cliff if tax rates on the nation's wealthiest don't rise. dag gri announces the rate decision later about plus apple shares still down in frankfurt. and its shares of the chinese market drop in the third quarter. >>> deutsche bank has hit back at allegations of financial impropriety brought by three former employees. according to reports, the ex-deutsche workers have launched a complaint with u.s. authorities...
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Dec 10, 2012
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if the president and speaker boehner can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across-the-board spending cuts will kick in on january 1st. >> reporter: there are signs some republicans are now willing to compromise on taxes, if they can secure cuts to social security, medicare, and medicaid. >> you give the president the 2% he's talking about, the rate increase on the top 2%. and all of a sudden, the shift goes back to entitlements. >> reporter: one proposal under discussion, raging the eligibility age for medicare is not going well for some dem -- democrats and advocates for senior citizens. >> the option to raise the medicare age is bad policy and will increase costs. because people who are 65 and 66 still need health insurance. >> reporter: the aarp says the real solution to cutting the deficit is lowering skyrocketing healthcare costs. in washington, danielle nottingham, wjz eyewitness news. >> well, the official fiscal cliff deadline is december 31st. many on capitol hill say an agreement is needed buyer the before the end of this w
if the president and speaker boehner can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across-the-board spending cuts will kick in on january 1st. >> reporter: there are signs some republicans are now willing to compromise on taxes, if they can secure cuts to social security, medicare, and medicaid. >> you give the president the 2% he's talking about, the rate increase on the top 2%. and all of a sudden, the shift goes back to entitlements....
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Dec 8, 2012
12/12
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CSPAN
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when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in 30 days or 90 days and we are clear about that, but nothing people believe we are going to do something until we do it. >> the to go to the broader concern. does the top rate have to end the 39.6% the way it was under bill clinton? could be democrats accept something between if it was coupled with a reduction in the ability on the top 2% to except a reduction of deductions? >> i do not want to second-guess what we might decide. i do not think that is what we should debate the right now. multimillionaires and what deductions they can take is something different. this is where we are. >> that is in addition to. >> yes, in addition to. the problem with having that debate now suggests that that
when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in 30 days or 90 days and we are clear about that, but nothing people believe we are going to...
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Dec 11, 2012
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. >>> to the fiscal cliff negotiations now. it is crunch time. with just three weeks before higher taxes and spending cuts kick in, negotiations are underway, but it's not known what if any progress is being made. speaking in michigan yesterday, the president said he's willing to compromise a little, but the gop wants to know specifics. danielle nottingham has more. >> reporter: president obama's campaign to steer clear of the fiscal cliff took him to a diesel engine plant outside detroit. >> congress doesn't act soon, meaning the next few weeks, starting on january 1, everybody's going to see their income taxes go up. >> reporter: private face-to-face talks were revived this weekend when house speaker john boehner went over to the white house. neither side is releasing details about the conversation, but taxes are still the big sticking point. >> i'm not going to have a situation where the wealthiest among us including folks like me get to keep all our tax breaks. >> reporter: republicans have adamantly opposed raising taxes, but now some are co
. >>> to the fiscal cliff negotiations now. it is crunch time. with just three weeks before higher taxes and spending cuts kick in, negotiations are underway, but it's not known what if any progress is being made. speaking in michigan yesterday, the president said he's willing to compromise a little, but the gop wants to know specifics. danielle nottingham has more. >> reporter: president obama's campaign to steer clear of the fiscal cliff took him to a diesel engine plant...
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Dec 5, 2012
12/12
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WUSA
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with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, ther there a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary tkpwaoeugter in'ers.e.c.geithneg over the cliff, the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me -- or do not used a skwrebgive thes like "curt," "frank" and "direct" m
with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, ther there a code of silence the...
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Dec 12, 2012
12/12
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this is a game of chicken, which i think is designed to go over the fiscal cliff, and pin the blame on the republicans, i understand why the president is doing it for political reasons but i don't think that the republicans have to surrender themselves in this game of chicken. lou: it seems the ultimatum, raise taxes on top 2%, why not let him eat to, it is his decision, go for it, if you don't want a mature, and intelligence, and responsible negotiation, you do not know who you are dealing with, it is called a constitutional body of government. >> it is john's right, this is politics, hard and fast, 1995 all over again, stakes are high and and president wants house back, pin the blame on the republicans make them look like right wing lunatics and grab the chips, they are in a no-win position. lou: we'll be back, marianne has to weigh in and a bunch more as we continue with the a team stay with us. ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the merced
this is a game of chicken, which i think is designed to go over the fiscal cliff, and pin the blame on the republicans, i understand why the president is doing it for political reasons but i don't think that the republicans have to surrender themselves in this game of chicken. lou: it seems the ultimatum, raise taxes on top 2%, why not let him eat to, it is his decision, go for it, if you don't want a mature, and intelligence, and responsible negotiation, you do not know who you are dealing...
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Dec 11, 2012
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>> neil: switch gears on the budget impasse talk the fiscal cliff for the brink. many say republicans give away the store. >> if they do, they are with tax hikes but no reduction of spending then they give away the store. >> they have to enforce the promise. neil: that makes sense or make it happen when the spending cuts have been. >> to extend the bush tax cut by then they should do all spending cuts simultaneous with each other simpson bowles makes sense but if they don't happen it is an excuse. neil: it is peppered with good intention of leaders whose say stick to your end of the bargain. >> money has to be on the table. criminal defense lawyers they of front because they don't pay. [laughter] give me my retainer. you can do when. republicans could give on the rate. 37 ha in return when the $1 trillion of spending cuts have been. what did the obama arithmetic that $1 trillion we have already cut. >> 800 billion for the board that would be financed anyway, there has to be real cuts happening at the same time. neil: rudy guiliani. i am headed to washington to sav
>> neil: switch gears on the budget impasse talk the fiscal cliff for the brink. many say republicans give away the store. >> if they do, they are with tax hikes but no reduction of spending then they give away the store. >> they have to enforce the promise. neil: that makes sense or make it happen when the spending cuts have been. >> to extend the bush tax cut by then they should do all spending cuts simultaneous with each other simpson bowles makes sense but if they...
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Dec 7, 2012
12/12
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that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that the country is facing. >> even the president got the tax rate hike he wanted understand we would continue to see trillion dollar deficits for as far as the eye can see. listen, washington has got a spending problem, not a re-knew problem. >> for many top democrats it's all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome o
that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that...
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Dec 11, 2012
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but the special dividend, ahead of this, this fiscal tax, cliff tax cliff. lori: we're with you. >> not going to happen. just not going to happen. there is no incentive to do so. lori: except for the fact shares evaporated so much from the $700 peak, right? >> yeah. the special dividend shows some assertiveness, financial strength, yes we have all the cash we can put it to work. at this point over the last three months apple shares have been down 17%. i think it is coming into question whether apple is the same apple that it was five years ago. melissa: for sure. >> it could certainly signal something but not going to happen right now. lori: appreciate that report. thanks, shibani. melissa: as more investors look for inflation hedges, hedge funds and endowments are hiding or adding hard assets to their stock portfolio. one to look at is medallion financial. robert gray spoke exclusively with the company's president. >> that's right, melissa. you can literally hail it as a public proxy for assets whose meter is running higher than other asset classes for deca
but the special dividend, ahead of this, this fiscal tax, cliff tax cliff. lori: we're with you. >> not going to happen. just not going to happen. there is no incentive to do so. lori: except for the fact shares evaporated so much from the $700 peak, right? >> yeah. the special dividend shows some assertiveness, financial strength, yes we have all the cash we can put it to work. at this point over the last three months apple shares have been down 17%. i think it is coming into...
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Dec 7, 2012
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selling ahead of the fiscal cliff. still, shares are up 32% year to date. the stock now on track to be down for the ninth week in the last 11. on average, though, when apple has hit that death cross, shares have gained about 1.1% the following week. apple, bill, the reason that the nasdaq is the big underperformer this week. if apple had been added to the dow instead of united health earlier this year, we would have seen a 700-point decline for this pullback in apple. >> we would have been much higher in the dow than we are now. thanks, bertha. what's to do with apple? is it a buy? do you avoid it? let's talk numbers on this today. what to do with this dreaded death cross? >> bill, a lot of clients of phoenix partners are calling in and saying, you know, what do i do now? is this the time to buy apple? my answer is simply, no, no, no. this is not the time to buy. lefts look at a longer term chart. what i want to point to is the nice, healthy, steady increase in price from 2009. all of the sudden, you know, greed takes
selling ahead of the fiscal cliff. still, shares are up 32% year to date. the stock now on track to be down for the ninth week in the last 11. on average, though, when apple has hit that death cross, shares have gained about 1.1% the following week. apple, bill, the reason that the nasdaq is the big underperformer this week. if apple had been added to the dow instead of united health earlier this year, we would have seen a 700-point decline for this pullback in apple. >> we would have...
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Dec 13, 2012
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the president in his own words confirming that tax hike, coming irrespective of the fiscal cliff outcome. >> taxes are going to go up one way or the other, the key is to make taxes go up and high-end individuals, i am confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. lou: obamacare, guarantees taxes are going up. 5 new obam obamacare-based taxeo kick in next year. a 3.8% surtax on unearned income, and call chains and dividend 18.8%, and a new tax on hospital care, and medical device manufacturersing' taxed 2.3% of the price of their products. americans get a tax deduction if their medical expenses exceed 7.5% of their total ince that number rising to 10% for everyone under the age of 65. and government, for first time ever sending a limit on tax free exible spending accounts, joint committee tax, estimates those 5 new provisions amount to $2 60 billion tax hike over next 7 years, president obama, avoid anything real negotiating on fiscal cliff issue, president doubles the amount of tax hikes he campaigned on when
the president in his own words confirming that tax hike, coming irrespective of the fiscal cliff outcome. >> taxes are going to go up one way or the other, the key is to make taxes go up and high-end individuals, i am confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. lou: obamacare, guarantees taxes are going up. 5 new obam obamacare-based taxeo kick in next year. a 3.8% surtax on unearned income, and call chains...
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cliff. and the two most important players involving the financial future of our nation. i'm harris falkner, we're told a meeting was held behind closed door and without the media's knowledge and both men tight-lipped about what was said and when we asked for comments, both giving us the same statement, quote, this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff, we're not reading out details of the communication, but the lines of communication remain open, end quote. this meeting comes as the white house and congress appear to be at at impasse, you know by now is crippling spending and tax hikes and could cost us jobs and send us back into recession and to solve the problem, republicans say we must prevent our ballooning national debt from crushing generations. and chief white house correspondent now ed henry joins us by phone with the latest on this breaking story, ed, they kept this under wraps. how big after deal is this? >
cliff. and the two most important players involving the financial future of our nation. i'm harris falkner, we're told a meeting was held behind closed door and without the media's knowledge and both men tight-lipped about what was said and when we asked for comments, both giving us the same statement, quote, this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff, we're not reading out details of the communication, but the lines of...